Gabonese President, General Brice Clotaire Oligui Nguema, has conferred the nation’s prestigious honour, Commander in the National Order of Gabonese Merit, on Tony Elumelu, Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation.

The award recognises Elumelu’s significant contributions to Africa’s economic development, particularly his support for youth entrepreneurship and infrastructure growth in Gabon and across the continent.

Speaking at the presidential palace in Libreville on Monday, President Nguema, who was sworn in on Saturday as Gabon’s newly elected leader, praised Elumelu’s dedication to inclusive and sustainable development.

“Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon. Through his Foundation and the UBA Group, he has consistently shown that investing in Africa is not just good business—it is the key to our shared future.

"Today, we honour a man whose actions continue to empower young Africans and inspire nations,” President Nguema stated.

In response, Mr Elumelu, who has made several high-level visits to Gabon in recent months, expressed gratitude for the recognition and reaffirmed his commitment to the country’s development agenda.

“I am truly humbled by this honour. It reflects not just my journey, but our shared belief that African-led solutions, African entrepreneurs, and African institutions will shape the future of this continent. Gabon holds enormous potential, and I am proud that the Tony Elumelu Foundation and UBA Group can play a role in unlocking it,” he said.

“This is more than a medal—it is a reminder of what we can achieve together as Africans. At UBA and the Tony Elumelu Foundation, we remain committed to building bridges, not just between nations, but between ambition and opportunity.”

The honour comes at a pivotal time for Gabon as the country accelerates its economic recovery and pursues inclusive growth under new leadership.

Elumelu’s engagement in Gabon is anchored on two strategic pillars: infrastructure financing, crucial for long-term economic transformation, and youth entrepreneurship.

The Tony Elumelu Foundation annually supports Gabonese and other African entrepreneurs with training, mentorship, and $5,000 in non-refundable seed capital.

The award also underscores the strengthening financial partnership between Gabon and UBA, which is present across Africa and plays a key role in financial inclusion and development.

Elumelu is the Founder and Chairman of Heirs Holdings, a family-owned investment company committed to transforming Africa through long-term investments in key sectors including financial services, energy, hospitality, technology, power, and healthcare.

He also chairs UBA, a pan-African financial services group operating in 20 African countries, the UK, France, UAE, and is the only African bank with a commercial deposit-taking presence in the United States. UBA serves over 35 million customers globally with corporate, SME, and consumer banking services.

In addition, Elumelu is Chairman of Transcorp, Nigeria’s largest listed conglomerate, with subsidiaries such as Transcorp Power—one of Nigeria’s leading electricity producers—and Transcorp Hotels Plc, a foremost hospitality brand.

A foremost champion of entrepreneurship in Africa, Elumelu founded The Tony Elumelu Foundation in 2010.

The foundation is the continent’s leading philanthropy dedicated to empowering African entrepreneurs, with a mission to catalyse economic growth, create jobs, and reduce poverty.

Since its inception, it has supported 18,500 entrepreneurs and built a digital community of over one million across all 54 African countries. This forms part of a ten-year, $100 million commitment to fund, mentor, and train young Africans.

Elumelu’s work is guided by his philosophy of Africapitalism, which positions the private sector, particularly entrepreneurs, as the driving force for Africa’s social and economic transformation.

In 2020, he was named in TIME magazine’s list of the 100 Most Influential People in the World and honoured with Belgium’s oldest and highest royal distinction.